The next memorandum of understanding on the concession of budget aid to Cape Verde will be signed in September or October this year. In addition to the World Bank, the European Union and the Netherlands, Spain, Austria and the African Development Bank have joined the “budget aid club.” In order to prepare the terms of the accord between Praia and Madrid, a technical mission from the Spanish Cooperation Agency will arrive this evening in Cape Verde.

Although precise figures are not yet known, according to a Finance Ministry source the accord is expected to call for more than US$ 3 million, and possible as much as US$ 5 million, in aid. What is almost certain is that the funds will be channeled into the National Environment Program, as well as the water and sewage sector.

Also certain is that the concession of budget aid will not absorb the financing of the projects currently being financed by the Spanish Cooperation Agency, such as the restoration of the Cidade Velha historical site.